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Here are the top reads on deals and financial services over the last 24 hours,

Trade uncertainty, gloomy outlook weigh on Canadian IPO market: Trade uncertainty and a gloomy economic outlook prompted many Canadian companies to delay their public market debuts, opting instead for cash infusions from private-equity investors. Story (Alexandra Posadzki)

For Canopy’s Bruce Linton, his biggest deal was his undoing: Bruce Linton has been the cannabis industry’s busiest and flashiest dealmaker. In the end, his biggest deal was his undoing. The co-chief executive and chairman of Canopy Growth Corp., who was instrumental in building the Smiths Falls, Ont.-based grower and marketer into a global pot juggernaut, was handed his walking papers by the same U.S. consumer-products giant he brought in as a major shareholder. Opinion (Jeffrey Jones)

Canopy Growth’s Bruce Linton amassed more than $200-million during his time as company’s co-CEO: Bruce Linton’s time at the top of Canopy Growth Corp. is over, but his run as CEO allowed him to amass one of the larger personal fortunes in Canada’s newly legal cannabis industry. Story (David Milstead)

Canada’s missed opportunity: Pot industry now being run out of the U.S.: With Bruce Linton’s firing, it’s now all too clear that the biggest companies in Canadian cannabis are run out of New York and the state of Washington. Story (Andrew Willis)

KKR acquires Ottawa software firm Corel from Vector Capital: American private equity giant KKR has bought Corel Corp. for a reported US$1-billion from Vector Capital, which bought control of the one-time Ottawa software star 16 years ago. Story (Sean Silcoff and Stefanie Marotta)

Radical Ventures lead $30-million financing for receipt fintech Sensibill: Sensibill Inc., a Toronto startup that provides digital receipt management technology to banks has raised US$31.5-million in venture financing, marking the fifth time in less than a month that a Canadian startup has raised $30-million-plus in financings led by Canadian investors. Story (Sean Silcoff)

CPPIB to sell student housing company but hold stake in buyer: The Canada Pension Plan Investment Board is selling a British student-housing company it bought four years ago but plans to hold a stake in the buyer. The Unite Group PLC said Wednesday that it is buying Liberty Living Group PLC for £1.4-billion ($2.3-billion). The CPPIB bought Liberty Living in 2015 for £1.1-billion ($1.8-billion at today’s exchange rates). The numbers aren’t directly comparable because of changes in the company’s portfolio and capital structure. Story (David Milstead)

Don’t put faith in Facebook’s cryptocurrency: Facebook and some of its corporate allies have decided that what the world really needs is another cryptocurrency – and that launching one is the best way to use the vast talents at their disposal. The fact that Facebook thinks so reveals much about what is wrong with 21st-century American capitalism. Opinion (Joseph Stiglitz)

MORE FINANCIAL SERVICES NEWS

Deutsche Bank expects major restructuring to cost up to US$5.6-billion: source: Deutsche Bank is preparing to unveil a sweeping, multi-billion euro overhaul within days that would see the axe fall heaviest on investment bankers, sources familiar with the matter said on Wednesday. Story (Reuters)

MORE DEALS NEWS

Quebec’s Group Mach withdraws $14-a-share bid for Transat: Group Mach said Wednesday it is no longer in the running to buy Transat A.T., stating the tour operator chose to ignore its proposal even though it featured a higher price than Air Canada’s offer. Story (Canadian Press)

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